Category: Gas

Oil and natural gas play an integral role in our lives each and every day. Whether it’s using gasoline to drive your car to work or heating your home with cheap natural gas, petroleum helps afford us modern comforts for the lowest possible price. This is largely thanks to companies such as Obsidian Energy. Obsidian Energy is based in Canada and is a self-described “intermediate-sized oil and gas producer”.

The assets owned and operated by Obsidian Energy produce roughly 30,000 barrels of oil equivalent per day providing much needed fuel to hundreds and hundreds of people who rely on it for a variety of uses. Formerly known as Penn West Petroleum Ltd., Obsidian Energy has improved their portfolio to only include the most profitable and reliable assets that provide steady streams of fuel. Their management team includes individuals which combined have decades of experience and expertise in the oil and natural gas field of the energy sector. A market that fluctuates so frequently requires leaders with a steady hand who are committed to their product and not afraid to endure market volatility at times.

Current President and Chief Executive Officer David L. French has experience leading successful petroleum companies. Prior to his work with Obsidian Energy French successfully grew Bankers Petroleum Ltd. into a thriving Canadian energy business. His past work shows no sign of stopping as Obsidian is already on the right path under his leadership. Their operations span across Alberta and are committed to extracting oil and natural gas in a manner that minimizes environmental impacts and causes the least amount of disruptions to the natural wildlife. Companies like Obsidian Energy realize that their product is doing so much more than just fueling your vehicle, so you can get to work. Oil and gas are used in so many different aspects of our lives from the water bottle we drink out of to the golf balls you and your friends chase around the greens on the weekends. Obsidian is committed to providing their customers with the highest quality oil and natural gas while continuing to operate as efficiently as possible.

Based in Calgary, Alberta, Obsidian Energy specializes in the production of natural gas and oil. This company holds some of the most valuable assets in Western Canada. It’s a mid-sized company for its industry and is traded on the Toronto Stock Exchange and the NYSE. Recently, Obsidian has undergone a number of changes, including the appointment of a new CEO.

Founded in 1979, Obsidian Energy was originally known as Penn West. This company was long known for paying high dividends of up to 15%. In the wake of the Great Recession of 2008, and the Albertan economy’s downturn, these dividend payments had to be suspended for a period. The company focused on improving and finding ways to emerge fresh.

This was part of the motivation for the name change to Obsidian Energy. These days, however, things are looking up for this company. Under the leadership of CEO David L. French, Obsidian Energy has emerged as a lean and disciplined company. In 2017, they produced 30,000 boe on average each day.

French is a graduate of Rice University and holds an MBA from Harvard University. During his career, he has worked in Canada, the US and Europe. Before joining Obsidian, he was CEO of Bankers Petroleum Ltd., another energy company headquartered in Calgary. This insight into not only the industry, but also the local geography and political environment, has proved invaluable. Get More Information Here.

Under this new leadership, the company has been careful about projections for growth. By being realistic, they have charted a course for responsible growth. Managing their valuable assets responsibly is job number one for Obsidian Energy. By nurturing and caring for what they have, Obsidian knows they will be able to deliver for shareholders and employees. Analysts are saying that growth in 2018 will be even better than projected.